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Dec 21, 2012
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and europe then pushed the free trade. the euro itself actually owes a lot to the uk's expertise. the creation of the euro, a lot of people within the euro were saying, well, you know, we're going to go ahead along and do this and we're going to do this and we're going to do that. and it was the expertise of the city of london and the british civil severalants heading the european euro projects who said actually, no, that won't work in practical terms. politicians have to live in the real world. >> and maybe to pander to people in the way that there are fears that they may have. even all of that said, how important is it for the eu that they maintain this relationship? >> well, i think the relationship has got to change. so my view is that the euro absolutely survives. ubs has always, always believed that the euro will be 17 countries. it should never have been created, you about now that it's here, it must stay intact. but the eu's relationship, that i think probably does have to adjust. because the eurozone has to integr
and europe then pushed the free trade. the euro itself actually owes a lot to the uk's expertise. the creation of the euro, a lot of people within the euro were saying, well, you know, we're going to go ahead along and do this and we're going to do this and we're going to do that. and it was the expertise of the city of london and the british civil severalants heading the european euro projects who said actually, no, that won't work in practical terms. politicians have to live in the real...
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Dec 3, 2012
12/12
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much less consumer dependent than what we see maybe in europe and the u.s. but, yes, that meeting is just back into expansion territory. that's good in itself. global growth will be looking for china to be going ahead. so good but modest. so any demand elsewhere could have an impact on china. >> have we had the china slowdown? >> we've had mosts of it i think. but again, china is very much in recent line with the cycle of the global economy and we'll be looking for some of the big growth engines to help them, as well. >> what's the chinese swing factor for investors? >> sitting in europe clearly it's something we focus upon. is it a driving force, absolutely not. the tail risk i think is what scares us. so do i feel heartened by the numbers in china, yes, it's kind of a positive. but there's more important things. >> if you're worried about synchronized global slowdown, you need one begin sort of spluttering on a little bit better. >> the difficulty is that it's a very large consensus among the investors in europe that come what may, they're not going to fee
much less consumer dependent than what we see maybe in europe and the u.s. but, yes, that meeting is just back into expansion territory. that's good in itself. global growth will be looking for china to be going ahead. so good but modest. so any demand elsewhere could have an impact on china. >> have we had the china slowdown? >> we've had mosts of it i think. but again, china is very much in recent line with the cycle of the global economy and we'll be looking for some of the big...
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Dec 11, 2012
12/12
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we're seeing definitive bifurcation of northern europe and southern europe. southern europe, we are creating an underclass of long-term, especially youth unemployed that is going to give us a problem when the economies eventually start to get into balance and start to pick up. we still have this issue, even though we have tens of millions of people out of work, we still can't find the right skills and the right time. >> you mentioned the uk. the unemployment picture never got that bad in britain. so what happens now? why did it outperform? >> the uk is so different from the rest of europe. we've got london, the financial services sector, that didn't actually, in terms of job numbers, get hit as hard as the rest of europe. so the uk has been pretty resilience. that is starting to create jobs regionally all around the country. the thing we have to look at, though, is a lot of the jobs that have been created are part-time and temporary. but both are still jobs and now jobs are being created in the uk. >>. >> david there speaking with ross. >>> now, the fed begin
we're seeing definitive bifurcation of northern europe and southern europe. southern europe, we are creating an underclass of long-term, especially youth unemployed that is going to give us a problem when the economies eventually start to get into balance and start to pick up. we still have this issue, even though we have tens of millions of people out of work, we still can't find the right skills and the right time. >> you mentioned the uk. the unemployment picture never got that bad in...
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Dec 27, 2012
12/12
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that is not the case in europe. you have, therefore, you don't have the incentive to take risks, to take the investment as you have in other parts of the world. >> are you plaming the french regulator for being responsible of the price war? >> blaming is such a typical word. i'm making an analysis. the realities are that if you have to invest as an operator, your investment incentives in the u.s. to take an example are very different than what they are in europe. that's a fact. it's not the blame, it's a fact. if your objective is low price for consumers, you got exactly what you wanted. but don't expect a lot of activities will start here in europe. >> do you think it's sustainable, this price determination? >> those are two very different worlds. personally, i think if you look to europe, we should have a stimulus for the right incentives been we need cross border merges. we need innovation, home grown innovation. we need to be active for that. we need to make stimulus for that. and that's not with just big compan
that is not the case in europe. you have, therefore, you don't have the incentive to take risks, to take the investment as you have in other parts of the world. >> are you plaming the french regulator for being responsible of the price war? >> blaming is such a typical word. i'm making an analysis. the realities are that if you have to invest as an operator, your investment incentives in the u.s. to take an example are very different than what they are in europe. that's a fact. it's...
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Dec 18, 2012
12/12
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europe is much stronger for obvious reasons. but i think we have nice balance of growth around the world. >> so just on the middle east, i'm assuming that business in most areas of the middle east has been quite tough here over the past two years especially or are you seeing pockets continuing to grow despite the -- >> yeah. so uae in saudi has been very strong. but clearly egypt and places like syria have been affected. and we've defer natalie seen a reduction in the market. but less growth than we've seen in the past. but i think, again, over time, it's a wealthy part of the world. >> there's speculation that you could be selling somewhere in the region of $2 billion worth of assets in hong kong, london, new york, paris. are you? >> no, no. too much speculation. we have on the market a slight hiccup in that process where we've gone with one party, we're now going to go back out to the markets. and then we said early next year we'll put our london intercontinental on the market. >> why? >> because we're very clear about that. o
europe is much stronger for obvious reasons. but i think we have nice balance of growth around the world. >> so just on the middle east, i'm assuming that business in most areas of the middle east has been quite tough here over the past two years especially or are you seeing pockets continuing to grow despite the -- >> yeah. so uae in saudi has been very strong. but clearly egypt and places like syria have been affected. and we've defer natalie seen a reduction in the market. but...
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Dec 5, 2012
12/12
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banks not doing too badly in europe as well. as far as debt markets, we had a spanish auction as well a short while ago. yields in spain, slightly higher on the back of it, up 5.35 percent. they did raise four and a quarter between the 3.5 to 4.5 billion they were looking the raise. they didn't get the total 4.5 billion, but it was across the three, seven and ten years. yields actually lower from previous auctions, still a bit higher on the seven year. what was interesting was the spanish ten year auction yield this morning came in 5.32%, pretty close to the cash yield as well. 5.46% was what the yield was in october, and 2.3 times. the ten-year today was better. they are now pre-funding for 2013. they've done the 2012 funding. on the commodity markets -- sorry, on the currency markets this is where we stand at the moment. aussie/dollar might be a little bit firmer, bearing in mind the sterling taking a bit of a dip. new orders contracting in the services pmi. for the first time since december 2010, not a good outlook for mr. os
banks not doing too badly in europe as well. as far as debt markets, we had a spanish auction as well a short while ago. yields in spain, slightly higher on the back of it, up 5.35 percent. they did raise four and a quarter between the 3.5 to 4.5 billion they were looking the raise. they didn't get the total 4.5 billion, but it was across the three, seven and ten years. yields actually lower from previous auctions, still a bit higher on the seven year. what was interesting was the spanish ten...
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Dec 20, 2012
12/12
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and europe is not doing well. we all know that. but i think europe has stopped deteriorating. so if we look at the pmi numbers, for example, they're still really bad, but they have stopped going down and some of the numbers increased even though they're still well below 50. all of this together means that i think it's going to be a very interesting year for equities that will make money in equities this year. >> virginie, if there's any good news for investors, maybe they can focus on fundamentals or looking at some particular companies, you know, is it a stock picker's market, that kind of thing. but we have major electrics. especially just mentioned europe, we have german elections, we have what's going on in italy. is it going to still be about politics or is it a market that will overcome that? >> i think clearly if near death is behind us, this election will have an impact, but not as much as with this waiting on the markets in the past couple of years. clearly with italy coming up quite soon, find out if we're going to have somebody against reform or for reform. as we've
and europe is not doing well. we all know that. but i think europe has stopped deteriorating. so if we look at the pmi numbers, for example, they're still really bad, but they have stopped going down and some of the numbers increased even though they're still well below 50. all of this together means that i think it's going to be a very interesting year for equities that will make money in equities this year. >> virginie, if there's any good news for investors, maybe they can focus on...
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Dec 7, 2012
12/12
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because the economy has been doing really very well within europe. so you could see german margins under a little bit of pressure, but then that could also suggest as i say that some of those projections for the german economy are a bit -- >> what assumptions are you making in this about the fiscal cliff and about further risks from eurozone financial crisis? go . >> we know the markets are driven on a minute by minute basis, but if we just step back from that, the chances that in two to three months from now, obviously we could briefly go over in january, i think that's unlikely, the chance that we'll really have the u.s. economy squeeze by 4%, 5% of gdp, i think it's incredibly unlikely. >> what are you assuming about the ongoing eurozone -- >> the eurozone, if we go through a series of ticks, we have had a lot of progress this year. you have to be clear about that. and not just with all the various government actions. look at wages in greece and now spain. wages in greece are down more than 25%. very painful, but we've heard about the pain already
because the economy has been doing really very well within europe. so you could see german margins under a little bit of pressure, but then that could also suggest as i say that some of those projections for the german economy are a bit -- >> what assumptions are you making in this about the fiscal cliff and about further risks from eurozone financial crisis? go . >> we know the markets are driven on a minute by minute basis, but if we just step back from that, the chances that in...
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Dec 6, 2012
12/12
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and stocks in europe are trading higher. aerospace giant has unveiled its ownership restructuring plans. apple and samsung are heading back to a californian courtroom today to renew their dispute. hearing starts at 4:30 eastern. samsung wants the court to toss out a jury verdict for patent infringement. apple wants to block some sales of samsung smartphones in the united states. apple suffered its worst day in four years and may be creediedi ground in the market. 417 companies in the s&p have a market cap below $35 billion. in frankfurt right now, apple stock down 3%. i'm afraid more bad news, as well, coming out of china. because apparently apple's rang in china smartphone market which will become the largest this year is down two spots to number six in the third quarter. suffering tough competition from chinese brands. this is according to idc. they say the u.s. market share in china under 10% in the third quarter. idc's release comes a day after the stock fall. so there will be more concerns about where aem goes in terms
and stocks in europe are trading higher. aerospace giant has unveiled its ownership restructuring plans. apple and samsung are heading back to a californian courtroom today to renew their dispute. hearing starts at 4:30 eastern. samsung wants the court to toss out a jury verdict for patent infringement. apple wants to block some sales of samsung smartphones in the united states. apple suffered its worst day in four years and may be creediedi ground in the market. 417 companies in the s&p...